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Trade association costs
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Amounts you pay your trade association are deductible if the trade association is conducted for the purpose of furthering the business interests of its members.
The amount is deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
The amount is deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Is the amount I pay my trade association deductible ?
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Amounts you pay your trade association are deductible if the trade association is conducted for the purpose of furthering the business interests of its members. The amount is deductible as a miscellaneous expense on on IRS Schedule C.
Dues - Securities Dealer
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
The dues you pay the stock exchange as a securities dealer are deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% limitation.
Dues - Booster Club
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Dues paid a community booster club conducted for the purpose to attract tourists and settlers to the locality where the members do business are deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Dues - Chamber of Commerce
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Dues paid the chamber of commerce are deductible if it is conducted to advance the business interests of its membership. It is deductible as a miscellaneous itemized deduction on IRS Schedule A subject to the 2% MAGI limitation.
Union - Strike fund payments
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Voluntary payments to a union strike fund are not deductible.
Union - Unemployment benefit fund payments
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
No. Voluntary payments to a union unemployment benefit fund are not deductible.
Union - Campaign costs
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Any campaign costs incurred for running for any union office are not deductible.
Union pension fund - mandatory contributions to retirement annuity
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
You can not take a deduction for the mandatory contributions you make to your union pension fund that is used to purchase a retirement annuity. The contributions are considered the cost of the annuity.
Construction worker - overalls
Asked Wednesday, December 20, 2000 by an anonymous userCPA Answer:
Special work clothes that protect you from injury are deductible.
They include Steel tipped safety shoes, hard hats, gloves etc. You may not deduct the costs of overalls or aprons that protect your regular clothing.
They include Steel tipped safety shoes, hard hats, gloves etc. You may not deduct the costs of overalls or aprons that protect your regular clothing.